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Pastimes : James Cramer Skeptic Thread -- Ignore unavailable to you. Want to Upgrade?

To: mr.mark who wrote (1199)	4/4/1999 1:10:00 AM
From: Adam Weiner	Read Replies (1) \| Respond to of 1254

If the IPO zooms to $50 the first day, as it probably will in keeping with all other 'net IPOs, Cramer will be worth $200 million dollars (current ownership + options) ...excuse me while I clear my throat... As much as I hate to admit it, Cramer is about to make the ultimate trade of all. Putting aside his poor fund performance and obnoxious antics, the man is going to cash in big time. I imagine he saw the loony trend in 'net stocks early on, created TSC and has been planning for this payday ever since. In retrospect, one had needed to only look at Netscape's IPO to see the signs of the mania to follow. How's about $200 million dollars of retrospect? Considering the fact that Cramer put up a bunch of his own money for the venture, it would belie my personal philosophy to say he doesn't deserve every penny he gets. I could question his values for brining a company public that bleeds money and has little prospect for ever earning the valuation it will receive (or ever earning anything for that matter), but I could hardly blame him for it. Manias on this scale come only once a generation. If people are willing and eager to throw billions of dollars into the wind, I guess it's not wrong to rake up the $200 million dollars that happens to land on your lawn. Cramer always said it's better to be rich than right.

To: mr.mark who wrote (1199)	4/4/1999 1:42:00 AM
From: WTMHouston	Respond to of 1254

If I could buy it at the offering price, I would back up the truck. Few of us are so averse to making money that we would not do the same, IMO. That said, I would also not chase it after it opens: sell maybe, but not chase... Heck, for that matter, I'll offer $15 a share right now for 10,000 shares. Bet that GS and TSC would rather and will sell it to the institutions at $11 though. Troy

To: mr.mark who wrote (1199)	4/4/1999 4:22:00 AM
From: BomboochaBoy	Respond to of 1254

what is everyone's opinion on this IPO? I'd enjoy having some shares before market. If CBS Marketwatch can maintain a healthy level, theStreet has a solid chance to do the same or better thanks to its visibility. Aside from that, I know nothing about the IPO except that it's being underwritten by Goldman, Sachs.

To: mr.mark who wrote (1199)	4/4/1999 8:16:00 PM
From: JB2	Read Replies (2) \| Respond to of 1254

I subscribe to the street.com., don't read the Wall Street Journal, and have never invested in a mutual fund, hedge fund, 401k, or IRA. I'm a full time investor and manage my own money. I read thestreet because they cut to the chase---not alot of superfluous chatter. Having said that, I don't think they are a good company to invest in: their balance sheet sucks, they're in the hole for millions, their subscriber base is miniscule. But hey, that makes them a perfect internet IPO candidate, right? Nowhere to go but up. This ipo is the only move that makes sense for the venture known as thestreet.com. When you owe lots more money than you bring in, you can either fold, or borrow more money! Given the current state of investor sentiment though, their ipo should zoom. The question is: what will/can they do with the money? What is the intelligent thing to do with capital to foster growth in their little sector? Broadening their appeal will kill the existing customer base. If we want CBS Marketwatch, we've already got that, and for free. Is their revenue stream going to come from advertising or subscription fees? The ultimate and probably quick resolution will be to merge with some bigger entity that can use them as a writeoff.